The purpose of the Debt collection department in the respective bank or financial institution is to pursue for payments of debts owed by individuals or businesses.

This debt collection process could be enhanced when the Collection Officers are familiar with the delinquents acounts assigned to them. Familiarity include having knowledge on the Banks’s customer credit history, financial status,payment habits, regular communication and current status of the recovery process.

The main objective of this function is to enable Debt Collection Manager to allocate /hold the delinquents accounts under the same Collection Officers for a specified time to ensure the accounts are managed effectively in the recovery of the debt.

This function allows user (the logon Debt Collection Manager) to do the following during the daily debt collection process in a bank or financial institution:-